Aug. 7 at 12:42 AM
Roku reported second-quarter results that comfortably beat Wall Street expectations, posting adjusted EPS of
$1.08 versus the
$0.60 consensus and revenue of
$1.35 billion, above analysts' forecast of
$1.30 billion. Total revenue increased 22% year over year, driven by continued strength in its platform business, while the company delivered record net income of
$164 million and record adjusted EBITDA of
$254 million.
Platform revenue, which includes advertising and subscriptions, rose 25% to
$1.22 billion. Advertising revenue climbed 25% to
$673 million as gross advertising margin expanded to 62.4%, with third-party demand platforms accounting for nearly three-quarters of streaming video ad spending on Roku. Subscription revenue also increased 26% to
$548 million, while streaming hours grew 7% year over year to 37.9 billion. Roku also introduced new live TV pause-and-resume features for services including FOX One, Apple TV, and Peacock.
$ROKU $FOX